Reply to: How to opt out of work place pension?

[Wijay@WISAccountancy]

Correct me if I am wrong but he has quite clearly stated at least twice there is him AND an employee but in two responses you've completely missed this... Or is it me?

you are right - Its me and not you...

[kolata]

Nest Guidance Document para 3.1.2, page 24

Thanks for that.
Am I wrong, but this is a web based interface in NEST. I have seen it. It holds all the staff and their status for WPP. SO once you have them opt out you don't have to send any more returns or anything.

[Darren at Fox-Bartfield]

Opt out

OK, I am with NEST, do they require anything more? Do you mean the pension provider to require periodic return? Why would they need that if the employee is opt out?

Nest Guidance Document para 3.1.2, page 24

[kolata]

The company will still be required to submit RTI to HMRC each month with the usual payroll data but depending on your provider, may require a periodic return for the pensions. However if your accountant is doing the payroll then they may be submitting any returns to the pensions provider as part of the package.

OK, I am with NEST, do they require anything more? Do you mean the pension provider to require periodic return? Why would they need that if the employee is opt out?

[northernladuk]

Your company = Employer, You = Employee. See below from Pension regulator
.

Correct me if I am wrong but he has quite clearly stated at least twice there is him AND an employee but in two responses you've completely missed this... Or is it me?

[northernladuk]

To be fair if you need to ask an account about the differences between employer and employee I am sure there are a raft of other things you will need to ask them as well.

[Wijay@WISAccountancy]

In process of choosing new accountant.
One of the things he mentioned in the preliminary chat was about the work place pensions.

In a nutshell he said that even thought all employees opt out of the scheme there are still ?monthly? responsibilities for the company to file ?a return?

Is that so or I need to keep searching for an accountant?

Are theatre any responsibilities for the LTD if all staff has opted out?

?? - I am not sure is this was the strict words, but along these lines.

Best you sit with an accountant who can take you through the differences Employer/Employee, Opt in/Opt Out etc. Pension regulators penalties are quite hefty compared to HMRC so best you speak to an accountant sooner than later.

[Wijay@WISAccountancy]

It is one director + one employee. So it seems I am an employer.

Your company = Employer, You = Employee. See below from Pension regulator

Automatic enrolment for directors

I'm the only director of my own company - do automatic enrolment duties apply to me?

If you are the sole director and you have no other staff working for you, the company does not have automatic enrolment duties.

If you believe you don’t have any automatic enrolment duties you will need to tell us that you’re not an employer.

If there are other staff working for the company, you will have automatic enrolment duties for them. What you need to do will depend on their ages and earnings.

Use our Duties Checker to understand the specific steps you need to take.

[Darren at Fox-Bartfield]

Opt Out

In process of choosing new accountant.
One of the things he mentioned in the preliminary chat was about the work place pensions.

In a nutshell he said that even thought all employees opt out of the scheme there are still ?monthly? responsibilities for the company to file ?a return?

Is that so or I need to keep searching for an accountant?

Are theatre any responsibilities for the LTD if all staff has opted out?

?? - I am not sure is this was the strict words, but along these lines.

The company will still be required to submit RTI to HMRC each month with the usual payroll data but depending on your provider, may require a periodic return for the pensions. However if your accountant is doing the payroll then they may be submitting any returns to the pensions provider as part of the package.

[northernladuk]

Wasn't it going to be easier if you answered the question if you knew the answers?
Instead of trolling?

Yeah ban the tro.... Oh.. Hang on

[kolata]

Who is the accountant you are talking to? Is it one who specialises in contractors, or the cheapest one you could find/a friend of yours?


There are several accounting firms suggested on here who will be able to answer those questions for you.

Wasn't it going to be easier if you answered the question if you knew the answers?
Instead of trolling?

[WTFH]

Who is the accountant you are talking to? Is it one who specialises in contractors, or the cheapest one you could find/a friend of yours?


There are several accounting firms suggested on here who will be able to answer those questions for you.

[kolata]

In process of choosing new accountant.
One of the things he mentioned in the preliminary chat was about the work place pensions.

In a nutshell he said that even thought all employees opt out of the scheme there are still ?monthly? responsibilities for the company to file ?a return?

Is that so or I need to keep searching for an accountant?

Are theatre any responsibilities for the LTD if all staff has opted out?

?? - I am not sure is this was the strict words, but along these lines.

[WTFH]

In case of director only company, does the director need to do anything to opt-out?
Or they are not workers and auto enrolment doesn't apply?

If your company has not signed up to a scheme then there is nothing to opt out of.

[missinggreenfields]

Yes.

If they are over 22, under the state pension age, paid more than £10k and work in the UK then you must offer a workplace pension scheme.

The individual can opt out if they want to, but you cannot force them to opt out. They can opt out for three years, and then have to opt out again. They also have the right to rejoin the scheme, but they can only ask once every twelve months.

So if they meet the requirements then you need to set up a scheme. As others have said, NEST looks reasonable but there are others available.